UPC upsizes dollar term loan to $1.98 billion, tightens discounts

New York, Oct. 12 – UPC Financing Partnership and UPC Broadband Holding BV increased their dollar-denominated term loan AR due Jan. 15, 2026 to $1,975,000,000 from $1.6 billion at launch, according to a market source.

The issuers also reduced the discounts on the in-market facility, to 99.875 from 99.75 for the dollar loan and to par from 99.75 for a €500 million term loan AS due Oct. 15, 2026.

Other terms are unchanged: the dollar loan is priced at Libor plus 250 basis points with a 0% floor while the euro tranche is at Euribor plus 275 bps with a 0% floor.

Credit Suisse is left lead for the dollar portion while JPMorgan is on the left for the euro piece.

They are joined as lead arrangers by Citigroup, Deutsche Bank, Goldman Sachs, HSBC, Scotia and Societe Generale. Bank of Nova Scotia is the administrative agent.

Both tranches have a 101 soft call for six months.

Recommitments were due at 5 p.m. ET on Thursday for the dollar piece and 6 a.m. ET on Friday for the euro tranche.

Proceeds from the new loans (Ba3/BB/BB) will be used to refinance a $2.15 billion term loan AP due April 2025.

UPC, a subsidiary of Liberty Global, a television and broadband company, is a Schiphol-Rijk, Netherlands-based provider of video, broadband internet and fixed-line telephone services in Switzerland and Austria, and in the central and eastern European countries of Poland, Hungary, Romania, Czech Republic and Slovakia.

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